According to the BNA's notice, published this Tuesday in Diário da República, forward exchange operations are subject to the formalization of a prior contract between the commercial banks and their clients.
The contract must include the amount, currency, term, exchange rate, among other elements, and the transactions may be traded on the foreign currency trading platform (FXGO) or outside.
Forward exchange transactions are trades agreed upon between a commercial bank and a client for the purchase (sale) of kwanzas and sale (purchase) of a foreign currency, in certain amounts, exchange rate and maturity date.
They can be contracted between the national currency and any other freely convertible foreign currency, with a maximum term of one year.
Forward exchange operations may be contracted with legal entities, importers, exporters, oil companies, diamond companies and state entities to cover the exchange risk related to specific and identified import or export operations of goods.
